Credit Reporting

The credit reporting industry is big business: over 150 million Americans have credit files that are maintained by the major reporting agencies, and the largest three agencies generate more than one billion credit reports each year. Yet millions of these files contain outdated information and errors that can affect a consumer’s access to home mortgages, car loans and other forms of consumer credit, housing, employment, and even insurance. Consumers should also beware of unscrupulous credit repair agencies that promise to erase bad credit reports.

Policy Analysis

Letter opposing H.R. 2885, Credit Monitoring Clarification Act, May 14, 2008 PDF 72KB

Comments on Proposed Guidelines and Rule re: Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies under FACTA Section 312, February 12, 2008 PDF (150KB)

Sample Short Comment Letter (MS Word)

Testimony to the House Committee on Financial Services regarding Credit Reports: Consumers' Ability to Dispute and Change Inaccurate Information, June 19, 2007 PDF (292KB)
Appendix, May 22, 2006 PDF (505KB)

Letter: National Consumer Organizations Urge Opposition to Credit Repair Organizations Act (CROA) Bill (H.R. 6129) on House Floor, September 21, 2006 PDF (155KB)

Letter to Senate Committee on Banking: National Consumer Organizations Urge Opposition to Bennett/Johnson CROA Bill (S. 3662), September 21, 2006 PDF (155KB)

Fair Credit Reporting

Analysis: Summary of FACTA changes to FCRA

Policy Analysis Archive (2000-2005)

Background Information and Resources

Background Information: FCRA 2003 Amendments

Background Information: Consumer's Union and FCRA